India mutual fund monitor
January 2023
Flows, assets, SIPs, fund-house structure and equity ownership activity. Each dataset keeps its own period; the status at the foot of the page lists them.
Flows & AUM Jan 2023 SIP not published for Jan 2023 NFO Jan 2023 Fund-house assets Oct–Dec 2022 (quarterly) Holdings Jan 2023
AMFI monthly report, Jan 2023. Total net flow covers all schemes; the asset-class figures are open-ended schemes. -37,703 Cr of the AUM change came from market movement and other effects, not investor money.
1 · Where money moved
Net flow by asset class · open-ended schemes · ₹ crore
- Equity +12,547 Cr
- Debt -10,316 Cr
- Hybrid +4,492 Cr
- Index funds & ETFs +3,905 Cr
- Overseas fund of funds +49.83 Cr
- Solution oriented +189 Cr
| Asset class | This month | Previous | 3 months | 12 months |
|---|---|---|---|---|
| Equity | +12,547 | +7,303 | +22,108 | +158,702 |
| Debt | -10,316 | -21,947 | -28,594 | -236,001 |
| Hybrid | +4,492 | +2,255 | +270 | -7,328 |
| Index funds & ETFs | +3,905 | +15,252 | +29,531 | +158,496 |
| Overseas fund of funds | +49.83 | +146 | +216 | +1,627 |
| Solution oriented | +189 | +162 | +445 | +1,748 |
3- and 12-month sums appear only where the series is unbroken; “—” means the window crosses a new classification.
2 · Category winners and losers
SEBI scheme categories · Jan 2023
Largest category inflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| Money MarketDebt | +6,460 | +5.81% | +10,486 | -6,848 |
| Index Funds (single category)Passive | +5,813 | +4.51% | +21,151 | +80,259 |
| Small CapEquity | +2,256 | +1.73% | +5,879 | +20,553 |
| Multi Asset AllocationHybrid | +2,182 | +9.13% | +3,979 | +5,484 |
| ArbitrageHybrid | +2,055 | +2.75% | -1,137 | -30,211 |
| Large & Mid CapEquity | +1,902 | +1.49% | +3,684 | +20,152 |
| Multi CapEquity | +1,773 | +2.70% | +2,620 | +19,006 |
| Ultra Short TermDebt | +1,765 | +1.99% | +620 | -5,107 |
Largest category outflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| LiquidDebt | -5,042 | -1.27% | +15,383 | +27,295 |
| Short TermDebt | -3,859 | -4.12% | -6,556 | -50,186 |
| OvernightDebt | -3,688 | -3.59% | -36,870 | -20,759 |
| Corporate BondDebt | -2,333 | -2.02% | +420 | -41,920 |
| Other ETFs (single category)Passive | -1,709 | -0.34% | +9,047 | +77,526 |
| Floating Interest RatesDebt | -1,438 | -2.44% | -3,998 | -43,033 |
| Banking and PSU DebtDebt | -1,173 | -1.58% | -4,390 | -34,093 |
| Ultra Short to Short TermDebt | -776 | -0.83% | -1,263 | -36,949 |
Investor money into and out of each category. It is not attributed to any stock.
3 · Fund-house market structure
Average AUM · quarterly
Fund-house data: Oct–Dec 2022 quarter. AMFI publishes fund-house assets as quarterly averages. This is the latest quarter that had ended by Jan 2023; it is not a January observation and nothing is interpolated. A later quarter (Apr–Jun 2026) is available on the AMC explorer.
| Fund house | Average AUM | Market share | Δ quarter | Rank |
|---|---|---|---|---|
| SBI Mutual Fund | 7.12 lakh Cr | 17.69% | +0.21 pp | 1 |
| ICICI Prudential Mutual Fund | 4.88 lakh Cr | 12.12% | -0.07 pp | 2 |
| HDFC Mutual Fund | 4.45 lakh Cr | 11.05% | +0.05 pp | 3 |
| Nippon India Mutual Fund | 2.93 lakh Cr | 7.27% | -0.03 pp | 4 |
| Kotak Mahindra Mutual Fund | 2.87 lakh Cr | 7.12% | -0.10 pp | 5was 6 |
| Aditya Birla Sun Life Mutual Fund | 2.82 lakh Cr | 7.00% | -0.24 pp | 6was 5 |
| Axis Mutual Fund | 2.48 lakh Cr | 6.17% | -0.19 pp | 7 |
| UTI Mutual Fund | 2.41 lakh Cr | 5.98% | -0.00 pp | 8 |
| Bandhan Mutual Fund | 1.19 lakh Cr | 2.95% | -0.12 pp | 9 |
| DSP Mutual Fund | 1.16 lakh Cr | 2.88% | +0.03 pp | 10 |
Biggest share gainers · quarter
- HSBC Mutual Fund+1.79 pp
- SBI Mutual Fund+0.21 pp
- Canara Robeco Mutual Fund+0.09 pp
- quant Mutual Fund+0.09 pp
- Mirae Asset Mutual Fund+0.06 pp
Biggest share decliners · quarter
- Aditya Birla Sun Life Mutual Fund-0.24 pp
- Axis Mutual Fund-0.19 pp
- Bandhan Mutual Fund-0.12 pp
- Kotak Mahindra Mutual Fund-0.10 pp
- ICICI Prudential Mutual Fund-0.07 pp
Rank changes among the top 30
- HSBC Mutual Fund24 → 14
- Kotak Mahindra Mutual Fund6 → 5
- Aditya Birla Sun Life Mutual Fund5 → 6
- Invesco Mutual Fund18 → 17
- Sundaram Mutual Fund17 → 18
- PPFAS Mutual Fund20 → 19
Official AMC-level net-flow data is not available from the validated source. AUM movement includes both investor flows and market movement.
4 · SIPs & retail participation
AMFI Monthly Note (SIP) and monthly report (folios)
SIP contribution
—Not published for this period
SIP contribution · 12 months
—Not published for this period
SIP assets
—Not published for this period
Contributing SIP accounts
—Not published for this period
Folios
14.28 Cr
+17.24 L on the month · +16.0% on a year ago
SIP contribution is published from June 2024 and SIP assets from January 2024; contributing accounts from September 2024. Earlier months show “Not published for this period”, never zero.
5 · New fund offers
New Schemes sheet of the AMFI monthly report · Jan 2023
18new schemes allotted
4,422 Crmobilised
Part of this month’s gross mobilisation — shown separately, never added to category net flow.
| Published category | Schemes | Mobilised | Schemes launched |
|---|---|---|---|
| Multi Asset Allocation Fund | 1 | 1,572 Cr | — |
| Multi Cap Fund | 1 | 1,204 Cr | — |
| Fixed Term Plan | 6 | 851 Cr | — |
| Index Funds | 6 | 420 Cr | — |
| Corporate Bond Fund | 1 | 258 Cr | — |
| Long Duration Fund | 1 | 90.00 Cr | — |
| Other ETFs | 2 | 27.00 Cr | — |
Ordered by amount mobilised in each category. AMFI prints NFO amounts by category, so the largest NFOs are shown as the largest categories with their scheme names.
6 · Equity ownership activity
Disclosed holdings · like-for-like portfolios · Jan 2023
837companies held
20AMCs reporting
557new positions
664complete exits
Most AMCs increasing
↗CompanyAMCs
- 01 Reliance Industries Limited203 comparable portfolios 13
- 02 Kotak Mahindra Bank Limited154 comparable portfolios 13
- 03 Adani Ports and Special Economic Zone Limited73 comparable portfolios 12
- 04 Tata Motors Passenger Vehicles Limited116 comparable portfolios 12
- 05 Oil & Natural Gas Corporation Limited62 comparable portfolios 12
- 06 Axis Bank Limited200 comparable portfolios 12
- 07 DLF Limited63 comparable portfolios 11
- 08 FSN E-Commerce Ventures Limited48 comparable portfolios 11
- 09 Hindustan Unilever Limited175 comparable portfolios 11
- 10 Britannia Industries Limited80 comparable portfolios 11
Most AMCs reducing
↗CompanyAMCs
- 01 UltraTech Cement Limited170 comparable portfolios 10
- 02 Asian Paints Limited96 comparable portfolios 10
- 03 Bharat Electronics Limited100 comparable portfolios 10
- 04 ITC Limited141 comparable portfolios 10
- 05 JINDAL STEEL LIMITED56 comparable portfolios 9
- 06 Havells India Limited48 comparable portfolios 9
- 07 Jubilant Foodworks Limited71 comparable portfolios 9
- 08 Coal India Limited75 comparable portfolios 9
- 09 Power Grid Corporation of India Limited91 comparable portfolios 9
- 10 Steel Authority of India Limited29 comparable portfolios 8
Largest comparable holding increases
↗CompanyShares
- 01 Samvardhana Motherson International Limited+9.0% · 53 portfolios +1.70 Cr
- 02 Oil & Natural Gas Corporation Limited+5.5% · 62 portfolios +1.66 Cr
- 03 Tata Steel Limited+5.3% · 109 portfolios +97.04 L
- 04 The Indian Hotels Company Limited+6.2% · 72 portfolios +87.14 L
- 05 Hindustan Petroleum Corporation Limited+31.7% · 63 portfolios +86.24 L
- 06 GAIL (India) Limited+19.9% · 39 portfolios +79.01 L
- 07 Tata Motors Passenger Vehicles Limited+11.7% · 116 portfolios +75.82 L
- 08 Power Finance Corporation Limited+9.8% · 31 portfolios +73.43 L
- 09 NTPC Limited+1.4% · 137 portfolios +72.02 L
- 10 NMDC Limited+7.5% · 27 portfolios +59.95 L
Largest comparable holding decreases
↗CompanyShares
- 01 Vodafone Idea Limited-32.6% · 14 portfolios -6.99 Cr
- 02 ETERNAL LIMITED-16.0% · 36 portfolios -2.63 Cr
- 03 IDFC First Bank Limited-13.1% · 31 portfolios -1.88 Cr
- 04 Bank of Baroda-4.6% · 96 portfolios -97.48 L
- 05 REC Limited-28.8% · 19 portfolios -81.00 L
- 06 Bharat Electronics Limited-1.4% · 100 portfolios -79.24 L
- 07 Tata Power Company Limited-13.6% · 60 portfolios -74.98 L
- 08 RBL Bank Limited-17.3% · 29 portfolios -74.80 L
- 09 Motherson Sumi Wiring India Limited-2.2% · 49 portfolios -65.10 L
- 10 Ambuja Cements Limited-11.6% · 81 portfolios -63.58 L
Most new positions
↗CompanyPositions
- 01 State Bank of India214 comparable portfolios 13
- 02 Bank of Baroda96 comparable portfolios 10
- 03 Hindustan Petroleum Corporation Limited63 comparable portfolios 10
- 04 TVS Motor Company Limited64 comparable portfolios 10
- 05 Persistent Systems Limited86 comparable portfolios 9
- 06 SBI Cards and Payment Services Limited82 comparable portfolios 8
- 07 Tata Steel Limited109 comparable portfolios 8
- 08 NTPC Limited137 comparable portfolios 8
- 09 GAIL (India) Limited39 comparable portfolios 7
- 10 Tata Motors Passenger Vehicles Limited116 comparable portfolios 7
Most complete exits
↗CompanyExits
- 01 Gland Pharma Limited70 comparable portfolios 12
- 02 ITC Limited141 comparable portfolios 12
- 03 Ambuja Cements Limited81 comparable portfolios 10
- 04 Avenue Supermarts Limited88 comparable portfolios 9
- 05 Maruti Suzuki India Limited157 comparable portfolios 9
- 06 Max Financial Services Limited56 comparable portfolios 8
- 07 Adani Enterprises Limited44 comparable portfolios 8
- 08 Coal India Limited75 comparable portfolios 8
- 09 InterGlobe Aviation Limited69 comparable portfolios 8
- 10 UltraTech Cement Limited170 comparable portfolios 7
Most widely held stocks
CompanyAMCs
- 01 ICICI Bank Limited307 portfolios 19
- 02 Reliance Industries Limited252 portfolios 19
- 03 Tata Consultancy Services Limited189 portfolios 19
- 04 Bajaj Finance Limited181 portfolios 19
- 05 ITC Limited169 portfolios 19
- 06 Dr. Reddy's Laboratories Limited100 portfolios 19
- 07 HDFC Bank Limited282 portfolios 18
- 08 State Bank of India280 portfolios 18
- 09 Axis Bank Limited242 portfolios 18
- 10 Bharti Airtel Limited215 portfolios 18
Broader ownership
↗CompanyΔ AMCs
- 01 Aarti Industries Limited8 AMCs now +5
- 02 State Bank of India18 AMCs now +4
- 03 Hindustan Petroleum Corporation Limited16 AMCs now +4
- 04 Abbott India Limited14 AMCs now +4
- 05 Bharat Forge Limited15 AMCs now +4
- 06 Reliance Industries Limited19 AMCs now +3
- 07 Bharat Petroleum Corporation Limited18 AMCs now +3
- 08 Hindalco Industries Limited18 AMCs now +3
- 09 HDFC Bank Limited18 AMCs now +3
- 10 The Indian Hotels Company Limited16 AMCs now +3
Narrower ownership
↗CompanyΔ AMCs
Comparable lists need at least 10 portfolios observed in both months and exclude companies under corporate-action review. Share changes are quantities, not cash flows, and category flows are never attributed to these stocks.
7 · Data status
What each figure on this page refers to
| Dataset | Period on this page | Frequency | Latest available |
|---|---|---|---|
| Flows, AUM, folios | Jan 2023 | Monthly | Aug 2026 |
| SIP contribution & assets | Not published for this period | Monthly (from Jun 2024) | Aug 2026 |
| New fund offers | Jan 2023 | Monthly | Aug 2026 |
| Fund-house assets & market share | Oct–Dec 2022 | Quarterly average | Apr–Jun 2026 |
| Equity holdings | Jan 2023 | Monthly disclosures | Aug 2026 |
Known limitations: no official net flow exists by fund house; fund-house figures are quarterly averages; SIP history starts in 2024; category flows cannot be attributed to stocks. Methodology →